The AML Directive Regulating Crypto Asset Providers In Cyprus

Becoming a Cyprus Crypto Asset Service Provider (CASP)

On 25 June, the Cyprus Securities and Exchange Commission (CySEC) issued an amending AML Directive to regulate Crypto Asset Service Providers (CASPs) along with its policy statement for licensing, subsequent to the implementation of the 5^th AML Directive.

If you are a CASP, that provides services from Cyprus, you are required to register with CySEC.

Who is considered as CASPs?

CASP is an entity that provides or exercises one or more of the following services or activities to another entity or on behalf of another entity:

1. exchange between crypto assets and fiat currencies
2. exchange between crypto assets
3. management, transfer, holding and/or safekeeping, including custody, of crypto assets or cryptographic keys or means which allow the exercise of control on crypto assets